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WorksheetsCost Accounting (Meaning to Limitations)
Total questions: 10
Worksheet time: 2mins
COST ACCOUNTING IS USEFUL TO
CONTROLLING COST
ASCERTAINMENT OF FINANCIAL POSITION
FIND OUT PROFIT OR LOSS
ALL THE ABOVE
FINANCIAL ACCOUNTING PURPOSE IS
FIND OUT COST
CONTROL COST
ASCERTAINMENT OF FINANCIAL POSITION & PROFIT/LOSS
BUDGETING
Cost accounting mainly helps the management in
Earning profit
Fixing prices of the products
Providing information to management
Providing Financial Position
all the above
can we plan, control and reduce cost with cost accounting
yes
no
may be
not sure
what do you mean by cost?
an amount spent or paid to buy or obtain
an amount spent to produce a product
both option 1 & 2
any amount
find out which is not a feature of cost accounting
process of accounting of costs
records production related revenue and expenditure
concerned with cost reduction
find out the position of business
select the objectives of cost accounting
finalizing of product price
controlling costs
minimizing wastage
compounding of business
cost accounting is helpful for...
preparation of quotations
preparation of p & l account
preparation of balance sheet
preparation of trial balance
is cost accounting is an expensive
yes
no
not sure
not confirm
1. Cost accounting provides all of the following information except
Cost of goods sold
Product cost
Inventory values
Cash forecasts
